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Notes -
I think the first answer is "zoning reform". If it was as trivially easy to spam new housing as YIMBYs would like it to be, a would-be monopolist would be chasing an ever-moving target.
I think the second answer is that even in the current environment, there is a lot of land. It would take absolutely insane levels of invested capital to build a portfolio that has anything approaching market power. Very localized market power would hopefully be mitigated by (1), as you can just go down the street some number of miles and build more, but the option to move to the next city is a pretty decent escape from monopoly. We've already seen plenty of less-than-super-money-loaded (i.e., not tech) companies flee from the high costs in California locations (just due to NIMBY, not even self-assessed-tax-derived monopoly). It definitely requires them to take a one-time hit, but these are the forces that move the system toward equilibrium.
I think the third answer is that the homeowner should, in theory, assess their property at a value that would actually sufficiently compensate them for the move. That is, it should include their moving costs, the cost of an alternate home in an alternate location, and whatever inconveniences come with that alternative. This is, of course, in theory, and it would be quite difficult to assess in practice. If done appropriately, it would be paired with significant reduction in tax rates, as valuations would be significantly higher than current purchase prices. Of course, Weyl's ilk aren't actually motivated by assessing things properly, so they'll immediately defect and jack rates up to be punitive toward anyone with wealth/assets. This is the real reason why such a scheme is not feasible; there is no likely political commitment to using this tool in a way that would actually be beneficial to a market economy rather than highly detrimental. I'd be much much much more concerned about this than investment company monopoly.
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